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Cincinnati, Ohio - September 6, 2001 Pollution Risk Services (PRS) announced today that they had signed a $4.1 million PRS - Clean Break contract with the PRP Group of a former manufacturing plant in Northeast Ohio. The PRS - Clean Break Program allows responsible parties to transfer liabilities associated with environmental conditions to PRS for a single lump sum payment. PRS assumes all environmental liabilities associated with the site and supports the agreement with a policy of insurance.
The site is a former ceramics and dinnerware manufacturing plant that has sat idle for more than 30 years. Lead has been detected in both the soil and groundwater at levels potentially harmful to human health and the environment. Recently, a federal judge ordered a group former owners and responsible parties to clean-up the site as required by the State of Ohio and U.S. EPA.
Commenting on the contract Pete Mather, Vice President of Pollution Risk Services stated, "This project is another example of how the PRS - Clean Break Program allows PRP groups to efficiently and effectively resolve environmental problems. For a single fixed cost, the responsible parties can absolve themselves from future liability and focus on their respective businesses."
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